According to MarketsandMarkets™ [151 Pages Report] the pine-derived chemicals market is projected to reach USD 5.27 Billion by 2021, at a CAGR of 4.5% from 2016 to 2021. The objectives of the study are to define, segment, and measure the pine-derived chemicals market with respect to its types, applications, sources, processes, and key regional markets. They also include major factors influencing the growth of the market, strategically analyze the micromarkets, analyze opportunities for stakeholders, provide details of competitive landscape, and strategically profile the key players with respect to their market share and core competencies.

The years considered for the study are:

Base year – 2015

Estimated year – 2016

Projected year – 2021

Forecast period – 2016 to 2021

This report includes estimations of market sizes for value (USD billion). Both, top-down and bottom-up approaches have been used to estimate and validate the size of the pine-derived chemicals market and to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research (FAO, Bloomberg, Factiva, companies’ annual reports), and their market share in respective regions has been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and were verified through primary sources.

The market for pine-derived chemicals is projected to reach USD 5.27 Billion by 2021, at a CAGR of 4.5% from 2016 to 2021. The pine-derived chemicals market is driven by increasing environmental concerns, growing industrialization, and focus on use of renewable resources & resource optimization, which has led to a large-scale adoption of pine-derived chemicals for various applications. Also, with rapid increase in pollution and exploitation of fossil fuels, the pressure on the ecosystem has compelled the need to find alternatives to replace fossil fuels with renewable raw materials.

The pine-derived chemicals market is segmented on the basis of type into tall oil fatty acid, tall oil rosin, gum turpentine, gum rosin, sterols, pitch, and others which include CST and its derivatives. The gum rosin segment is projected to grow at the highest rate in terms of value, due to the increasing producers’ demand as it is commercially viable and owing to its high benefits. For instance rosin is used a flux in soldering. The lead-tin solder used in electronics has about 1% rosin as a flux core which helps in smooth flow of molten metal and making a better connection by reducing the refractory solid oxide layer formed at the surface back to metal. Also the diverse applications of gum rosin in adhesives, paints & coatings, ink, rubber, paper, and gum-based candy fuels the demand of gum rosin in pine-derived chemicals market.. Also, the development of these downstream industries is further projected to boost the demand for gum rosin.

Based on applications, the pine-derived chemicals market is segmented into adhesives & sealants, paints & coatings, surfactants, printing inks, and others which include food additives, cosmetics additives, and seed coatings. The paints & coatings segment dominated the pine-derived chemicals market as it is cost-effective and safe to use. The changing lifestyles; increased usage of safe and eco-friendly products, especially in the urban areas; and growing environmental concerns are driving the market for pine-derived chemicals in the paints & coatings industry.

Based on source, the pine-derived chemicals market is segmented into living trees, dead pine stumps & logs, and by-products of sulphate pulping. By-products of sulphate pulping dominated the pine-derived chemicals market due to producers; reliance on this source owing its functional benefits.

The market is also segmented on the basis of processes into kraft and tapping. Tapping dominated the pine-derived chemicals market due to its functional benefits as it is a time saving & economic process and also due to the development & advancement of technology.

On the basis of region, the pine-derived chemicals market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Rest of the World (RoW). North America dominated the global pine-derived chemicals market due to the developed industries in this region. Asia-Pacific is projected to be the fastest-growing region due to continuous increase in demand for pine-derived chemicals owing to the suitable climate and operational benefits from pine-derived chemicals along with increasing environmental concerns, growing industrialization, ease of doing business, and broad application spectrum are the factors driving the demand of pine-derived chemicals.

Stringent government regulations laws along with price war among different pine-derived chemicals manufacturers are restraining the market.